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UBA Ghana increases deposits in 2021

BY: Graphic.com.gh
UBA Ghana increases deposits in 2021
UBA Ghana increases deposits in 2021

UBA Ghana increased its deposits in 2021, recording a 46 per cent increment in deposits.

It crossed the GH¢4billion mark and posted a profit before tax of GH¢218million in 2021.

The bank's statement shows it grew its net interest income from GH¢312million to GH¢337million while net fees and commission also went up by over GH¢7million.

The bank grew its total assets from GH¢3.95billion at the close of 2020 to over GH¢5.3billion by December 31, 2021, representing a 36 per cent improvement in the asset position of the bank.

The growth in the asset base of the bank was largely driven by additional investments earning assets.

Investment securities within the review period grew from GH¢1.24bn in 2020 to GH¢2.71bn in 2021.

Total liabilities of the bank for the year under review stood at GH¢4.24bn, an increase of GH¢1.28bn from the GH¢2.95bn posted in December 2020.